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France Has Made Off With Bernie Madoff's 'Bull' Yacht

September 11, 2009 at 9:28 AM | by | Comments (0)

When we aren't out jetting around or hopping a high-speed train, we like to fantasize about that other form of transportation: the almighty ship. So to allay our own curiosity as much as yours, we're spotlighting yachts with either notorious owners or histories...or both. Know of a bootylicious boat? Let us know.

Anybody in the market for a super deal on a yacht? Because boy oh boy does the harbor in Cap d'Antibes, France have the boat for you: it's Ponzi schemer Bernie Madoff's old 88-footer, named Bull. The yacht, only built back in 2007, was seized by French authorities back in April, and now she sits with her propeller chained up and the dock roped off until someone steps up to buy her.

Although she is valued at $7 million dollars, it probably won't take all that much to get off her the yacht broker's hands. Madoff of course registered her in Georgetown, Barbados to tax advantage of their tax haven reputation, but now that she's docked in the South of France, she'll need to be moved by March 2010 or else she'll be liable to French sales tax.

Even after she is good and sold, the money in the bank won't even be a drop in the bucket towards paying back the billions of dollars swindled from thousands of people by Bernie with his Ponzi scheme. Bull is actually only one of his boats; the other two were seized in the US along with his Palm Beach mansion. They, however, haven't undergone the curious international circus that Bull faces with this sale.

We also find it pretty funny to note some of the other things being sold by broker Wyles Hardy, in addition to the Bull: a multi-level TV studio set with audience seating, a Ford Focus, the Buster Keaton and Douglas Fairbanks Film Libraries, a boom vehicle, and a band saw. Odd bedfellows Bull has these days, kinda like her owner, in jail.

Related Stories:
· Leopard 27M Superyacht-Bull [Wyles Hardy]
· How Many Penis Jokes Can Be Made About Bernie Madoff's Yacht? [NY Mag]
· The yacht of Bernard Madoff, "Bull," Chained at Antibes [Honorvell]
· Hot Yachts Coverage [Jaunted]

[Photo: Honorvell]

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